Democrats Criticize SEC Chair Atkins Over Drop in Crypto Enforcement

US lawmakers questioned Securities and Exchange Commission Chair Paul Atkins at a House hearing about the agency's enforcement actions against the crypto industry and why several cases were dismissed after the leadership change. Representative Stephen Lynch said enforcement actions since President Donald Trump assumed office and Atkins took the helm are down 60%, citing the dismissal of several SEC lawsuits, including the SEC's motion to dismiss the Binance case in May 2025.

Lynch also pointed to foreign investment in World Liberty Financial (WLFI), a decentralized finance platform linked to the Trump family, and memecoins launched by the family as causes for concern. Aryam Investment 1, an Abu Dhabi investment vehicle backed by Sheikh Tahnoon bin Zayed Al Nahyan, purchased 49% of the startup behind WLFI.

“This is hurting the crypto industry, all these scams. Look at crypto today. I think it's down 25% in the last month. People are losing trust, and it’s not good for crypto.

United States, Abu Dhabi

sec, paul atkins, stephen lynch, binance, wlfi, memecoins, aryam investment, abu dhabi, defi, crypto enforcement